Quick Summary
- PowerUp Money raised $10 million in a round led by Flourish Ventures, with existing investors also participating.
- The round valued the company at $73 million, according to founder and CEO Prateek Jindal.
- The platform has more than 1.5 million customers tracking portfolios worth over Rs 2.5 lakh crore.
Indian wealthtech company PowerUp Money has raised $10 million in a funding round led by Flourish Ventures. The company plans to use the capital to expand beyond subscription-based mutual fund advisory and build a broader wealth-management platform. Founder and chief executive Prateek Jindal told Moneycontrol that the business is looking to serve customers across more investment categories, including stocks, while developing a more personalised digital wealth provideing.
Where the new funding is expected to go
- Expand research and advisory teams
- Build services beyond mutual-fund tracking
- Develop broader wealth-management products
- Explore coverage of additional asset classes
A large mutual-fund base is the starting point
PowerUp Money says more than 1.5 million customers use its platform to track mutual fund portfolios worth over Rs 2.5 lakh crore. Those assets are tracked through the service and should not be confused with assets managed by the startup itself. The company has built its initial business around helping retail investors understand mutual fund holdings, monitor performance and access investment information. The new round gives it more room to broaden that relationship into other services.
Flourish Ventures led the $10 million round, with existing investors Peak XV Partners, Accel, Blume Ventures, Kae Capital, 8i Ventures and DeVC also participating. Founder and CEO Prateek Jindal told The Economic Times that the transaction valued the company at $73 million. The company was founded in 2024 by Jindal, who previously co-founded Uni Cards. The new valuation is a funding-round figure, not a public-market price or an independently assessed value of the business.
Moving from advice subscriptions to managed wealth
The company wants to expand beyond a subscription model focused on investment advice. A broader service could combine portfolio monitoring, financial planning and investment execution, depending on the regulatory permissions and products eventually provideed. PowerUp Money has also indicated plans to move beyond mutual funds into stocks. That would place it in a more competitive market, where brokerages, wealth managers and digital investment platforms already have established customer relationships.
A broader service could combine portfolio monitoring, financial planning and investment execution, depending on the regulatory permissions and products eventually provideed. PowerUp has also indicated plans to move beyond mutual funds into stocks. That would place it in a more competitive market, where brokerages, wealth managers and digital investment platforms already have established customer relationships. The company will need to show that it can add products without making its advice harder for customers to understand.
The challenge is trust as much as technology
India’s retail investment market has expanded as more people use digital platforms to buy mutual funds and shares. That growth creates an opportunity for services that make financial information easier to understand, but it also raises the cost of earning and retaining customer trust. Users may be willing to connect portfolio data to a tracking app, yet expect stronger safeguards when a provider begins managing money or making personalised recommendations.
PowerUp Money’s next stage will be judged by customer retention, the quality of its advice and the transparency of its fees. The Rs 2.5 lakh crore portfolio figure indicates reach, but it does not reveal how many users pay for a service or how much revenue the company earns per customer. The new funding gives the startup a chance to broaden its provideing. It will still need to show that customers want one platform to manage more of their financial lives.
PowerUp’s valuation and user base give investors a clearer picture of the company’s current position, but the next product category brings a different level of responsibility. Advising a customer about a mutual fund is not the same as managing a portfolio or executing a stock transaction. The company will need to explain the regulatory structure for each service, disclose charges and show how customer interests are protected when products are recommended. Its existing audience gives it a distribution advantage, but the ability to retain trust will matter more than simply adding more features to the app.
PowerUp’s reported $73 million valuation is a private funding-round figure and should not be compared directly with listed financial companies. The business will need to show paid customer retention and transparent economics as it adds new services. Its existing user base provides reach, but managing money requires a different level of trust and regulatory oversight from tracking investments.